Russia
RUSSIA: in 1Q2020 accumulative insurance share reached 26% of the life GWP
For the first quarter, GWP of KAPITAL Life (among TOP-5 life insurers) increased by 14% y-o-y, exceeding RUB 5.3 billion (~EUR 61.82 million). Besides, based on the quarterly results, the company maintained leadership in terms of the number of effective accumulative life insurance contracts, ASN reports based to the data of the All-Russian Insurance Association (ARIA).
19 May 2020RUSSIA: dividends of RESO-Garantia for 2019 will amount to half of its net profit
Based on the results for 2019, RESO-Garantia will pay dividends to its shareholders in the amount of RUB 4.9 billion (~EUR 70.7 million), which is about half of the group's net profit (RUB 9.8 billion) recorded last year, ASN reports citing the press-service of the insurer.
19 May 2020RUSSIA: the number of appeals to the financial ombudsman and complaints against insurers is decreasing
In April this year, the number of appeals to the financial ombudsman dropped by almost 28% compared with the results of March, which is primarily due to a decrease in activity under restrictive quarantine measures, the press service of the financial ombudsman reports.
13 May 2020RUSSIA: National Association of Agriculture Insurers proposed creation of forest insurance system in view of the drastically increasing intensity of forest fires
A drier than average winter and the higher spring temperatures have made Siberia more severely affected by forest fires than in previous years. In total, on April 28, 2020, there were 3,339 outbreaks recorded compared to only 1,960 last year. The area covered by fires since the beginning of the year is 477,000 hectares (vs. 382,000 hectares last year), Siberia Times reports.
12 May 2020RUSSIA: GWP of ROSGOSSTRAKH in 1Q2020 increased by more than 27% y-o-y
In 1Q2020, GWP of ROSGOSSTRAKH increased by 27.6% y-o-y and exceeded RUB 22.3 billion (~EUR 0.26 billion), ASN reports.
7 May 2020RUSSIA: total number of insured livestock more than doubled in 1Q2020 y-o-y
In 1Q2020, GWP under agricultural insurance contracts with state support reached RUB 425 million (~ EUR 5 million). Almost 67% of premiums were collected under livestock insurance and the rest under crop insurance, ASN reports citing the press-service of the National Association of Agriculture Insurers (NAAI).
7 May 2020RUSSIA: ROSGOSSTRAKH Life: most Russians are more or less concerned about the impact of the pandemic
Most Russians are more or less concerned about the pandemic situation, but most of them do not take any measures to reduce this fear, ROSGOSSTRAKH Life said in its press release, dedicated to the rating of concern among the country's regions.
30 April 2020RUSSIA: S&P: despite the impact of the pandemic, Russian insurers should remain resilient to the shocks
S&P Global Ratings believes that despite the economic and financial fallout from the pandemic and decreased oil prices, Russian insurers will remain resilient to the consequences, the agency said in its press-release.
29 April 2020RUSSIA: in 1Q2020 paid claims exceeded 81% in MTPL GWP
In the first quarter of 2020, Russian MTPL GWP increased by 2.3% year-on-year, reaching RUB 47 billion (~EUR 0.55 billion*). MTPL paid claims increased as well by 3.9% y-o-y, to RUB 38.2 billion, ASN reports citing the data of Russian Association of Motor Insurers (RAMI) press service.
28 April 2020RUSSIA: over RUB 120 million paid by SBERBANK Life insurance in 1Q2020 under accumulative life insurance contracts
In 1Q2020 SBERBANK Life insurance paid over RUB 120 million (~EUR 1.4 million) under the terminated accumulative life insurance contracts. At the same time, 30% of the total number of payments were made in Moscow, which is also leading among the regions in terms of the amount paid (RUB 27 million or 23%), the insurer reports.
22 April 2020RUSSIA: 1Q2020 paid claims of SBERBANK Life insurance for credit insurance increased by 54% y-o-y
In January-March 2020, SBERBANK Life insurance, a subsidiary insurer of SBERBANK, paid RUB 1.8 billion (~EUR 21 million) for credit life insurance, which is 54% more y-o-y, the insurer reports.
21 April 2020RUSSIA: RNRC presented a report on reinsurance contracts' renewal on the market
According to RNRC (Russian National Reinsurance Company), renewal of disproportionate obligatory reinsurance contracts for property and technical risks in January showed that total acquired capacity decreased by 5% y-o-y to RUB 132 billion (~EUR 1.9 billion), the reinsurer reports.
21 April 2020RUSSIA: affected by the decreasing economic activity - the insurance market may drop to the level it had five years ago
According to the forecast of the Expert RA rating agency, the spread of coronavirus will significantly affect the dynamics of the insurance market in 2020 and lead to its decline in the range 17% to 27%, the agency's review says.
21 April 2020RUSSIA: ROSGOSSTRAKH Life: Moscow is leading in the share of residents with savings
According to a study of the financial situation of citizens in the country, conducted by ROSGOSSTRAKH Life, the lowest household debt load was recorded in Moscow - 34.5% of residents have one or two loans, however, a fifth (20%) of them doesn't even know the conditions and interest rates, the study said.
16 April 2020RUSSIA: S&P affirms SOGAZ at BBB, outlook stable
The long-term credit rating and financial stability rating of the market leader, SOGAZ insurance group, affirmed by S&P Global Ratings at BBB with a stable outlook, ASN reports with reference to the agency's press release.
9 April 2020RUSSIA: SBERBANK Insurance appointed new CEO
Mikhail VOLKOV has been appointed CEO of SBERBANK Insurance, a subsidiary of Sberbank and the second insurance market leader of 2019, the press service of SBERBANK Insurance said.
9 April 2020RUSSIA: ARIA proposed measures to support the insurance market during the pandemic
The All-Russian Insurance Association (ARIA) developed a number of measures to support operation of the insurance market during the pandemic. ARIA submitted its proposals to the regulator, as well as the Chairman of the Russian government, ASN reports.
1 April 2020STATISTICS: RUSSIA, FY2019: market GWP stagnated amid paid claims' rapid growth of 17%
Market GWP at the end of 2019 remained almost unchanged y-o-y in local currency, amounting to RUB 1.48 trillion (~EUR 21.3 billion). At the same time, market paid claims increased by almost 17% (in local currency), to RUB 610 billion (~EUR 8.8 billion), as the data published by the Central Bank show.
26 March 2020RUSSIA: net profit of RNRC almost doubled in 2019 and amounted to EUR 48 million
In 2019, the amount of accrued premiums of the Russian National Reinsurance Company (RNRC) amounted to RUB 14.1 billion (EUR 0.2 billion), which is 16% more y-o-y, while the volume of earned premiums increased by 20%, to RUB 13.3 billion, the reinsurer informed on its website.
19 March 2020RUSSIA: agroinsurance became one of the fastest growing market segments in 2019
Last year, agroinsurance premiums reached RUB 5.6 billion (~EUR 80.72 million). According to Korney BIJDOV, President, National Association of Agricultural Insurers (NAAI), "agroinsurance turned out to be one of the fastest growing segments of the insurance market in Russia, showing a 51% y-o-y increase", ASN reports.
12 March 2020
